Istanbul Anti-Corruption Action Plan for

Kazakhstan is largely compliant with this recommendation. 
Recommendation 33 
Strengthen internal control system to assure effective detection and prevention of money 
laundering. Make external auditors liable to check if their clients are obliged to any provision resulted 
from the draft law referring money laundering and to examine if there are any risks involved in money 
laundering. Impose audit companies to define in their internal acts procedures relating suspicious 
transactions and identification of entities they enter into business relationship, and ask them to keep 
adequate records. In cooperation with professional associations of auditors develop a list of indicators of 
suspicious transactions, and ensure their dissemination to the auditors, which can help identifying 
business events and circumstances that may indicate money laundering activities. 
Kazakhstan developed a draft Law on Fight against Money Laundering and Financing of Terrorism 
some time ago. The Law was discussed in Parliament in 2005, but has not yet been adopted. The delay is 
due to the legislation on capital and property amnesty that allows for legalisation of such assets for a 
certain period of time. The authorities confirm that the anti-money laundering (AML) law shall enter into 
force shortly, and the decision where to locate the Financial Intelligence Unit (FIU) is expected very soon. 
For a long time now, the establishment of a sound anti money-laundering regime has been put on hold and 
there is no system to prevent money laundering despite the fact that the financial market is rapidly growing 
in Kazakhstan. These shortcomings question the reputation of the Kazakh financial market. Kazakhstan is 
scheduled to undergo an EAG Mutual Evaluation in 2nd quarter of 2009.
The draft law also covers auditor organisations as subjects of financial monitoring. However, it is not 
clear if only the (professional) organisations are covered or all auditors and accountants as required by the 

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international standard. Since the draft Law has not been adopted, no list of indicators have been developed 
and the internal auditors have no specific task in detecting and reporting suspicious transactions